This statement tells you the overall pay budget (how much AXA has to spend on salaries) and framework (how AXA will spend it) for 2019. This is negotiated between AXA and Unite for Associate to Professional bands and applies to all AXA Insurance and Corporate Centre employees.

Overall Budget

This year’s talks have concluded with an offer of a 3% increase for the total pay budget for employees in Associate to Professional bands. The same budget will apply to the Senior Professional to Senior Leader bands. Whilst the overall increase to the budget will be shared across all eligible employees, individual increases will vary based on the circumstances set out below. Any pay increases will take effect from 1 April 2019.

Associate to Professional Pay Approach

Pay awards will be made to employees in these roles based on performance rating and position of salary in the pay range. The % amounts are set in order to be able to make larger awards to high performers and those lower in the pay ranges, while also remaining within the overall budget.

Individual outcomes will be formally communicated to employees in March. Further information about how pay is distributed using the matrix can be found on the Manager Area on ONE.

Senior Professional to Senior Leader Pay Approach

Managers who are responsible for pay decisions for the pay review process (also known as Pool Heads) will have full discretion to set pay awards within the overall budget for employees in Senior Professional to Senior Leader roles. These decisions are made in the context of a range factors including individual performance, the external market and comparable pay between peers.

In implementing this change AXA will pay particular attention to ensuring fairness remains at the forefront of pay and bonus decisions and, as with any change, the approach will be subject to review to ensure it is meeting the objectives that have been set down for it.

Other Adjustments

AXA UK’s minimum salary will be increased to £16,380 (based on a 35 hour FTE contract). There are no other changes to pay ranges.

There are some local pay arrangements, like the AXA Insurance Claims Development Framework, which are managed outside of this process.